During the incident, officers said the man was assaulted, suffering facial injuries that had to be treated in hospital.
Police now want to speak with a man who walked from Cheapside through town towards Belmont Road in the early hours on that same day and are asking for the public’s help in identifying him.
Pictured: One of the CCTV images of the potential witness.
Islander Mark Baker has now launched a fundraiser “to return the money stolen from an elderly vulnerable man who was assaulted and robbed in the early hours and restore his faith in people.”
£500 has been raised so far on the JustGiving page, where islanders have also been sharing well wishes.
“Hope you make a speedy recovery sir, and justice is done,” one supporter wrote.
“This should never have happened, may this poor man heal both physically and emotionally.”
Anyone who has more information about what happened or who can help identify the possible witness is asked to contact police on 612612 or the independent charity Crimestoppers anonymously on 0800 555 111 or via their Anonymous Online Form at Crimestoppers-uk.org.